It certainly pays to check out the cost-benefit analysis of redemptions vs paid tickets. Fares as well as award costs are changing, and some nice redemption opportunities arise temporarily while others close.

Speaking of opportunities, Singapore Airlines is fast running out of routes with 747 with Melbourne switching to A380 from September. Currently (hopefully for not too much longer) Singapore Airlines blocks award redemptions in first and business class on A380 and 77W aircraft. You can get these awards by picking a route which will switch and booking before it does so. My tip - the remaining 747s are due to leave Singapore Airlines' fleet around April next year, most of these routes will switch to A380 or 77W. You can book an award up to 11 months in advance.